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environment in washington, the fiscal cliff and their predictions for 2013. we'll be right back. i feel fine ♪ [ male announcer ] navigating your future can be daunting without a financial plan. at pacific life, we can give you the tools to help you achieve financial independence. for more than 140 years, pacific life has assisted families and businesses in meeting their goals, even in uncertain economic times. let us help protect the things that you work so hard for. to find out how, visit pacificlife.com. ♪ >>> let's turn now to the house. we're joined by democratic representative chris van hollen of maryland and republican representative raul labrador of idaho. so you just heard it from your senate counterparts. they appear to be close to a deal, a mini deal. will it fly in the house? >> well, the house is a real problem because as we know, speaker boehner, the republican speaker in the house, was unable to get his members to support his own plan, which said that we should ask people earning more than $1 million a year to pay a little bit more, and so speaker boehner is going to have
'll be back on wednesday, in time to trade the fiscal cliff. all right. the deadline, of course, just hours away. if lawmakers wind up kicking the can down the road, they may want to come up with a way of saying so. that son the annual list of words to be ban issued. spoiler alert, trending and bucket list, not surprisingly the phrase that got the most nominations this year, fiscal cliff. so that brings us to this morning's squawk on the tweet. what other phrases should be banned and why. and remember, try and keep it clean. tweet us at squawk street. we've got your responses throughout the morning. fiscal cliff definitely has to go. >> i can't wait for hash tag to go away. >> we'll start hearing about the debt ceiling in two months. >> a ban on 2013's list. >> have a great new year. >> you as well. i have no special plans. i have a 3-month-old daughter -- >> that's very special. >> i'm prohibited from going anywhere. we have dinner reservations about 4:30 p.m., though. >> early birds. >> happy new year. >> same to you. >> presidents of americans for tax reforms, grover norquist ond how his
-minute deal to avoid the so-called fiscal cliff, right? the president and the vice president, they're going to meet with house speaker john boehner, minority leader nancy pelosi, senate majority harry reid and minority leader mitch mcconnell. that is happening this afternoon. jessica yellin is there. jess, what do we know about the president's plan to get everybody in the same room? do we think there's going to be something that comes out of this? >> reporter: well, this is one of those cases where we really are going to have to wait and see, and all the parties involved are also going in with a big question mark. the idea is the expectation by many of the participants in the meeting is that they hope that they will be able to discuss more details about a scaled-down fiscal cliff plan. and maybe that could lead to some sort of agreement ideally for all parties in which all the senators say that they will not filibuster it, and it can go to a vote. and then speaker boehner could, in theory, agree to bring it to a vote on the house floor after the house comes back on sunday. and then we would
the fiscal cliff. right now, the leaders of the house and senate are sitting down with president obama in a search for an 11th hour deal to prevent severe tax hikes and spending cuts from automatically kicking in with the new year. cnn's chief white house correspondent jessica yellin is getting new details. jess can ka, what are you hearing about that meeting? >> reporter: candy, the president is going to explain or reiterate the position he took on friday, that he would like a plan that extends tax rates for people who make $250,000 and below but raises them for those who make more than that. that it extends unemployment benefits for americans. and if the president, i'm told will say if he does not get an agreement to that plan, he will ask the other leaders what they can agree to, what what they would like instead. if they cannot come up with a proposal that will pass the house and the senate, will ask for a vote on his measure. but that meeting, candy, is still going on. congre congressional leaders arrived at the white house for a last-ditch meeting just days before a new year's de
. >> this whole metaphor we've been using about a fiscal cliff probably isn't the right one to be used. after all, if you go over a cliff, you usually don't get to live to tell about it unless you're batman or spider-man, but there are things that actually would happen right away and one of those things that would be right away in a negative impact would be unemployment benefits and 2 million americans would see the unemployment benefits and that would hurt the economy and that would hurt these people that are relying on this and the unemployment insurance has been seen as economic stimulus to get hands into the money of people who need it and they were things that actually get spread over the course of 2013 if there is no fix that is actually done and it is possible for congress to go back and fix things and talking about the increase of tax rates and there will also be spending cuts to government programs as well as the military and that will be spread over with 2013 and the world doesn't come to an end if we go over this quote, unquote, fiscal cliff and instead, a lot of the damage gets spread
that they are getting something done, the fiscal cliff meeting at the white house right now. what were the mechanics of rushing the deal through congress and getting it passed into law? what would that look like in four days? lisa desjardins joins us now. what will it look like? >> well, there is a couple of possibilities, don. one is that they take sort of the remnants of one of the bills that passed the house or the senate and they just change it. they add whatever is in this deal to it. they have a whole bunch of vehicles that are possible for that. one sticking point, because this deal would most likely deal with taxes, there is a rule in the constitution that is has been interpreted by most every side to determine it has to begin in the house, revenue measures begin in the house. they need a bill that starts in the house, okay, they have a lot to do that. then the trick is making sure they have the votes. i think if we see anything come out of tonight's meeting, anything substantial, that's what is going to happen this next day and a half. leaders on both sides have to make sure they have got t
the fiscal cliff, right? come back to work and let a majority in the house, republicans and democrats, work their will. let democracy work to protect the middle class. it is essential we pass the extension of unemployment insurance. that is why the president has been very clear on that since day one that it should be a part of any plan. these are people who are out of work through no fault of their own. they are looking for jobs in what is still a tough economy and providing unemployment benefits provide more security for those americans and their families, but it is good for everyone else also. those people have a little bit more money in their pockets to spend on goods and services to support their family which is good for everyone else. when they are spending money, businesses can sell more goods and services and we have some small business representatives here who know very well that the more people have money in their pockets, the more customers they have with money, the more they can sell their goods and services, and the better off the country will be. let's get back to work. allow t
. >> a game of beat the clock. right now on capitol hill, and you guessed it, it's fiscal cliff countdown time. senate leaders on both sides now trying to reach a deal to prevent a huge tax hike on the middle class come the first of the year. senators warn that is not going to be easy. >> i'm going to do everything that i can. i'm confident senator mcconnell will do the same. but everybody, this is whatever we come up with is going to be imperfect. some people aren't going to like it, some people will like it less, but that's where we are, and i feel confident that we have an obligation to do the best we can and that was made very clear in the white house. we're going do the best we can for the caucuses that we have and the country that's waiting for us to make a decision. >>> paul bran disis the bureau chief of the west wing report in washington. and paul, you are a well-known veteran of all things washington. what is really going on behind the scenes right now as we wait to learn if they can reach a compromise or not? >> you know, the sound bite you ran at the top of this piece just i think
is afraid of is that the bill will actually pass and then we would avoid going over the fiscal cliff, right? come back to work and let a majority in the house, republicans and democrats, work their will. let democracy work to protect the middle class. it is essential we pass the extension of unemployment insurance. that is why the president has been very clear on that since day one that it should be a part of any plan. these are people who are out of work through no fault of their own. they are looking for jobs in what is still a tough economy and providing unemployment benefits provide more security for those americans and their families, but it is good for everyone else also. those people have a little bit more money in their pockets to spend on goods and services to support their family which is good for everyone else. when they are spending money, businesses can sell more goods and services and we have some small business representatives here who know very well that the more people have money in their pockets, the more customers they have with money, the more they can sell their goods a
. "early start" begins right now. >>> crunch time for the fiscal cliff. the key players to meet at the white house with just four days left until the deadline. >> they called him stormin norman. america remembering general norman schwarzkopf. >> and have gun, will teach. hundreds of educators get a hands-on lesson in firearms. controversial proposal. good morning. welcome to "early start." 5:00 a.m. in the east. >>> it is the last friday of 2012. i've just had that pointed out to us. one final desperate attempt to dodge the fiscal cliff, just four days left before we go over the edge triggers tax hikes, spending cuts that could send the nation back into recession. the president calling for members of the congress the back. a gang of six attending. vice president biden, harry reid, house minority leader nancy pelosi, mitch mcconnell and john boehner representing the republicans. brianna keilar is live from washington. is anybody optimistic that a deal could be done today around a table? >> i will tell you the optimism is sort of sinking. senate majority leader harry reid said he
's the thought on the fiscal cliff and look where we are right now. we can work it out after the election is out of the way, and here we are and we haven't worked it out. >> but if we go over the cliff, let's say it is fixed on january 2nd, 3rd, 4th, and can be fixed retroactively, right? >> right. >> this is a also bit of a drama everyone has whooped up? >> depends on how you look at it. you talk to some analysts and they say if you go over the cliff, markets will collapse easily and others say it's more of a fiscal slope you gradually begin to go. but the congressional budget office says as we work our way into 20 some -- 2013, they say aisling we will find ourselves in a recession. >> thank you, senator. >> thank you. >>. >>> they say if reports are right, if the benghazi reports are right, the state department maybe playing musical chairs. and donald trump is here. he said republicans have a nuclear weapon. what does he mean? he is here to tell you. and what do you think is the biggest story to hit the entertainment world this year? now it's your turn to tell us. go on gretawire.com and post
the fiscal cliff. >> the president won't be doing this but the white house will be. >> that's right. it will be interesting to see if we get response out of this. people in the meeting with the president could come to the microphones. so could c.e.o.s. >> we wanted to let you viewers know we're going to monitor the white house. we have two cameras focused on the white house waiting for the leaders to leave and specifically see if they approach a microphone and camera and let us know what's going on. we'll take that if we get that. thank you, gerri willis. >> you know how he protected other nation's border but wait until you hear how sheriff aarpaio wants to protect our schools. he's here next. blah >>> you're looking live at the white house just outside the white house, senator john kerry, for some reason he's outside the white house. inside, president obama and the house and senate leaders. we'll keep our eye on. ,. >>> a border battleon the mexican government using our court system to fight arizona's sb1070 immigration law. it wants a u.s. circuit court of appeals to block part th
crisis, things like our fiscal cliff crisis, a slowdown in china. this is how stocks are moving right now. it's no longer how many cannes of coke did we sell last quarter. it's really tied to this so it matters more than before. they're panicking and starteding to see it. look no further than the consumer confidence number dropping, the retail sales. ge has blamed some poorer results this past quarter on lack of investment. you know, honeywell is seeing the pain. they're not filling empty positions. it's already -- it has been starting to affect companies for probably, you know, at least the past quarter already. >> okay. thank you, joy, and thank you leigh. remember, president obama is going to make a statement on the fiscal cliff talks at 5:45 eastern time and msnbc will provide live coverage. until then, chris matthews is up next with the best "sideshow" moments of the year and the nra's best excuses for standing in the way of any and all reasonable restrictions on guns. this is "hardball," the place for politics. to the best vacation spot on earth. (all) the gulf! it doesn't matter wh
? this is kind of very structural pressures. >> that's right and that's what underlies the fiscal cliff. they're looking out beyond 2020, all these people retiring, providing defense costs more and more because of less efficiencies in government stuff so the calculus isn't good. it isn't good for us or anyone but there are things to do. there are a lot of things we can do better, more private infrastructure spending, improving our education system, making entitlement systems, means tested. >> shifting federal spending from consumption to investment as for the future. >> all right, ken thanks very much, and we'll be leaning on you for guidance over the course of the next few days. >>> who doesn't want a little eva longoria in her life. she's helping fellow latinas get a college education. are easy with free pickup from the u.s. postal service. we'll even drop off boxes if you need them. visit usps.com pay, print, and have it picked up for free. any time of year. ♪ nice sweater. thank you. ♪ >>> yesterday we brought you the shirtless matthew mcconaughey. today something the men at the desk
about 2016. but it's because -- >> right. >> because the fiscal cliff. i'm done with that until we get some news. >> i think that's a lot of name recognition, don't you? people also, rand paul, for example, very dynamic on television. people recognize him and his energy and his different ideas, so he stands out. but it also is a reflection of the fact that the republican party doesn't -- has an identity crisis. these are people who are moderates and iconic class and very far out on the edges. that doesn't speak to a party that really has a clear leader or a central ideology to speak to. >> and won't until it gets a nominee. the next time we'll know what the republican party is about, maybe, when they get a nominee, right? >> well, you can get the contours of a debate if people really don't have one. remember bill clinton campaigning in the late '80s and early 1990s building a consistent case for the democratic party that was in some ways in worst shape than republicans are now. >> that took two gigantic strokes of luck. one was that mario cuomo did not run for the nomination and ross p
the fiscal cliff. you say we will trade at. >> i've seen the financial stocks, which are a very important indicator of the market. they have been very strong, and living today. we have seen some nice follow-through from companies like goldman that finally have been able to get above key technical levels. also there is no recall when addressing. the window dressing is the group , loss on wall street among the money managers say let's get that market really strong for the end of the year. we want to see nice numbers, and gerri: you guys do nothing and fundamentals anymore. it's amazing to me. >> you're right, and that is part of the problem with the street, but those two are bottom-up fundamental analysts, we really like the guidance that we saw that came out of it. many of these industrial multi complex companies that are very importaat indicators. gerri: like it when you talk but companies like those, because those are real companies. illinois tool works, fundamental company manufacturing, doing all the right stuff. i want to get you, though, to an interesting list that came out in fortun
days away from the fiscal cliff and there are real consequences to millions of americans if no deal is cut. congressman elijah cummings and ryan grim of the huffington post are here with the latest. a tea party giant stages a coupe with his own office. the details on dick armey's hostile takeover. the nra is catching heat from all directions. >> i don't think the nra is listening, i don't think they understand. >> georgetown university law professor, david cole on the growing drumbeat against the nra. >>> six days until the price of milk shoots up to $8 a gallon. why house republicans are take ing america to the dairy cliff. >>> and civil liberty groups take on torture in zero dark thirty. >>> if no deal is reached, the nation will go over the fiscal cliff in a little more than five days and house republicans are doing nothing more than posturing. president obama is flying back to washington tonight from his christmas vacation in hawaii to make one last attempt to get a deal before midnight new year's eve. the senate is returning and will be in session tomorrow for the same purpose.
and no beauty. >> what? >> ed, truth be known, and we see this fiscal cliff and the calamity of the day on january 1st, tonight is true the white house dot much care if they get it on the first or the fifth? >> reporter: you're right, with withholding, some people will not feel the effects of a tax increase the first couple of days, you might have time to finagle that, the treasury department has that authority. the fact of the matter, what they're more nervous about in the white house and republicans on the hill are unclear what will happen. will it be a tarp moment like in 2008 when the tarp legislation got voted down and president bush was imploring the fell mrow republicans. it's a bitter pill to swallow. they voted it down and the markets plunged 5, 600, 700 points and everybody figured it out. what's going to happen with the markets, they're closed new years day, but when they open january 2nd, we have several consecutive days the markets have gone down not by a ton, but if they're plunging on january 2nd, that's what they're more nervous about. >> andrea. >> we've heard a lot of
the fiscal cliff. can you give us an update. we heard news about secretary hillary clinton. >> that's right, is she had a follow-up example at new york presbyterian hospital today when her doctors discovered she developed a blood clot. she's being treated with anti-clot medication at presbyterian hospitals and doctors are going to monitor progress over the next 48 hours. we're told her doctors will continue to assess her condition including what is associated with her concussion. >> hopefully that's a quick hospital stay. anybody, questions on the-- >> yeah, mike, it's beckel. mcconnell stayed out of this thing all along until he comes in at the last minute and i give him credit for trying it. at the last minute he drops in a reevaluation of the cross limit on entitlements which mired up the whole thing. we know full well you can't get that done in a day. why in the world is mcconnell messing with this thing. >> bob, you've probably been part of these high profile negotiations. >> i have. >> and dana mass. it's horse trading. bottom line, he probably wasn't happy with where the tax rate was
vacation for the hard reality of the fiscal cliff negotiations. the president called all four congressional leaders last night in an effort to reach a deal, but did that call fall on deaf ears? jared bernstein, former chief economist to vip biden, as well as a contributor. i want to start with the new statement from senator mitch mcconnell's office coming out says last night he called other lead serious. the leader is happy to review what the president has in mind, but to day date the majority has not put forward a plan. jared, is that good they're actually speaking, however far apart as it may sound, at least they're talking? >> it's a bit good. better to be talking than north. the unfortunate thing are the words they're saying. i don't hear much compromise or kind of conciliation in the statements we've heard thus far. i do hear a lot of theatrics, you go first, no you go first. it's strange to say the democrats haven't put forth any legislation on this, because in fact they have. in fact, a democratic majority in the senate passed a bill that's pretty similar to the compromise that the p
cliff. i'm curious what the mood is like in washington right now. >> there is is an infinitesimal increase in optimism because of the mood out of that meeting today, but i still would say the odds -- the people who are placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than when we woke up this morning but no one is counting on being off on new year's eve. randi. >> jessica, thanks. more now on the raw politics with "new york times" columnist ross douthat the and cornell. the president said he wanted to see a straight up-or-down vote. as we mentioned that, will happen on monday in the senate. he could lose that up-or-down vote. >> i think you're likely to see something come out of the senate. you have to pay attention, especially on the senate side to tone. what minority leader mcconnell was saying was tone was right. i think you'll see something come out of the senate but i think the problem comes on the house side, whether or not speaker boehner what it send theirs way to go an up or down vote without having the
of the late breaking developments on the fiscal cliff negotiations which are coming down to the wire. it's a working weekend in washington. have a great weekend and a happy new year. "anderson cooper 360" starts right now. >>> john, thanks. we begin tonight with breaking news about your paycheck, your unemployment check, your defense job, the entire economy, you name it. all of it is at stake if the country goes over the fiscal cliff. it's a cliff that lawmakers built. they set the tuesday deadline, they knew it was coming for more than a year. but even now, they have done little to agree to a package before that time. keeping them honest, the people in this building have known what's coming on tuesday, yet they're only returning to this building to get back to work just now. senators came back yesterday. house members, well, they woet be back until sunday. this afternoon, house and senate leaders met with president obama at the white house. they talked for about an hour. afterwards, president obama said he was modestly optimistic. bypassing house speaker john boehner who had trouble get
? how likely is it that we'll go over the fiscal cliff? i'm curious about the mood in washington right now. >> there is an increase in optimism because of the mood out of that meeting today. but i still would say the people who are -- placing bets in this town still expect that the nation will go over the fiscal cliff. so still a little bit more hope than what we woke up this morning, but no one is counting on being off on new year's eve. >> randy. >> jessica, thank you, more now on the raw politics, good to see you both. cornell, let me start with you here, the president said he wanted to see a straight up or down vote. as we mentioned that could happen in the senate. we could lose the up or down vote. >> you are going to see something come out of the senate. you have to pay attention to the tone, i think you will see something come out of the senate on up and down, but i think the problem comes on the house side, whether or not in fact speaker john boehner is going to allow what the senate sends their way to go on an up or down vote, without having a majority of the majority. >> and
about the fiscal cliff meeting that just broke up between the president and congressional leaders and that there were some disappointed reporters, yourself included, that they didn't speak to you. >> reporter: that's right, mabdy. we always want that exclusive interview or even a non-exclusive interview, but a little bit more information here. the white house is telling -- the white house press pool was told the meeting ended at 4:15 p.m. so that puts the meeting at just over an hour all told, and i'm told that we just saw senator mcconnell, the republican leader in the senate leaving the white house here, so that gives us three out of the four congressional leaders that we've now seen going out of building. unless i'm missing senator reid here. it looks like he might still be in the building at this point. >> the republicans have left the building pretty much. >> reporter: that's right. >> leaving the democrats to talk about this. so it doesn't look that great. stay right there. let's talk about this with some market pros, morgan lander and stephen nicholas is with us, ed moy and
much and have a really happy new year. >> thanks, karen. >>> coming up, it's not just the fiscal cliff. the president has a lot to do and not a lot of time to do it. stay with us. >> the president goes off 18 hours on the golf course, 20 hours in the air. how do you view this politically? >> he's been using this, and i must say with great skill and ruthless skill and success to fracture and basically shatter the republican opposition. we're all having such a great year in the gulf, we've decided to put aside our rivalry. 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don't forget our amazing seafood. so come to the gulf, you'll have a great time. especially in alabama. you mean mississippi. that's florida. say louisiana or there's no dessert. brought to you by bp and all of us who call the gulf home. c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for ro
the fiscal cliff negotiations. the first one, most importantly, he is missing his dance partner joe biden. he has been kept on the sidelines during negotiations. some republicans think his absence is a sign that the president is not serious about closing a deal. mitch mcconnell is no longer the top republican in washington. it is easy to forget that when he struck a deal to extend the bush tax cuts, boehner had won the house a month before but was not wielding the gavel. finally, mitch mcconnell has stayed on offense. on the senate floor on friday he argued the democrats poisoned the well by declaring boehner's plan b dead on arrival. >> and he is up for reelection in 2014. by all polling, it looks like it will be a lot tougher. he also has a colleague in rand paul, who is a tea partier. you put all those factors together and it could be that mcconnell may have to step up because that is what you have to do to get some sort of deal at the moment, we have not seen that happen. host: from mark williams, what will be specifically affected in the economy if we go over the cliff? guest: instead of
on the fiscal cliff, eamon javers joins us with the details. >> good evening, meshel. capitol hill sources tell cnbc that congressional leaders are planning to go to the white house tomorrow to meet with president barack obama and it is not entirely clear at this point when that meeting will take place and details are still being hammered out and we saw today a blistering series of rhetorical jabs from one side to the other and it's not clear as a result of all that whether a deal can, in fact, get hammered out in the remaining time before new year's eve and take a listen to senate republican leader mitch mcconnell earlier today explaining the problems he's facing in washington. take a listen. >> the truth is we're coming up against a hard deadline here and as i said, this is a conversation we should have had months ago. and republicans aren't about to write a blank check for anything senate democrats put forward just because we find ourselves at the edge of the cliff. >> we do know that the house of representatives has been told that the members there should be back in town here in washington
of snow on the ground in the lower 48 than last year. >>> next, just six days until the fiscal cliff. the clock is ticking and it's not just about taxes. ahead, what else is at risk if a deal isn't reached in washington? >>> and the latest on former president george h.w. bush. an update on his condition is next. trust duracell to power their donated toys? duralock power preserve. it locks in power for up to 10 years in storage. guaranteed. duracell with duralock. trusted everywhere. i'm going to dream about that steak. i'm going to dream about that tiramisu. what a night, huh? but, um, can the test drive be over now? head back to the dealership? [ male announcer ] it's practically yours. but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a passat. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. advil pm® or tylenol pm. the advil pm® guy is spending less time lying awake with annoying aches and pains and more time asle
tomorrow. >> all right, jeff, thanks so much. >>> you know about the fiscal cliff. here comes the container cliff. dockworkers threaten to go on strike this sunday at more than a dozen major seaports from texas to massachusetts, and that could cost american companies about $1 billion a day. ana anna werner good morning. >> reporter: good morning. there are only two days left after a potential strike and negotiations between the longshoremen longshoremen's union and shipping companies are at an impasse. at issue here is pay for those working at the ports, but if the issue isn't resolved the consequences could be a devastating impact on the economy. as the rest of the country focuses on the political gridlock in washington workers at the port of houston are working overtime trying to get as many shipments in and out as they can before a threatened strike brings the port to a standstill. >> sitting here right now we fully expect there will be some shutdown or strike at the end of the day. >> reporter: jon gold vice president of the national retail federati
the fiscal cliff dividend taxes could triple. and that would have a significantly negative impact on our economy's ability to sustain growth. and think about, you know, this idea, this false idea, frankly, that it won't impact anybody that makes less than 250,000 or whatever the cap is you want. >> right. >> our average age of people that own dividend-paying stocks is about 65 years old. their average income is between 70 to $75,000. yeah, they're not subject to the $250,000 but in fact, if you reduce the after tax yield of these kinds of investments that people select because of their low risk and they use the dividends to supplement their retirement income, if you reduce the after tax yield, stock values drop. we have already seen that. david: because of all this breaking news i want to bring you back and i really want to focus you a little more specifically and dividend tax is something you're hot about but i want to talk to you about whether you're getting squeezed. i'm looking at 300 to $400 billion gap the president will have even after the tax increases. i think he will go after y
people have a right to be very upset with this congress. >> reporter: president obama has invited nancy pelosi, john boehner, mitch mcconnell and harry reid to the white house this afternoon for a "fiscal cliff" summit. >> here we are five days from the new year, and we might finally start talking. >> reporter: today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chambers of congress. >> i don't know time-wise how it can happen now. >> reporter: under senate rules the only way a bill could make its way through the procedure hurdles in time is if every senator agrees not to slow the progress. the house will be back here sunday night giving them just more than 24 hours to vote on any bill the senate works out. outside the beltway, carlino will be watching. >> everybody's kind of in a wait-and-see and fingers crossed perspective right now. >> reporter: since 1930, this is only the fifth time congress has worked after christmas. tara mergener for cbs news, washington. >>> today's meeting will be th
consumers very uncertain about the fiscal cliff and the taxes. what i hear a lot is they are really worried about inflation. the government says it doesn't exist of course but reality is everybody is experiencing, 9, 12, 15 percent in their pocketbooks. evidently these guys from washington don't eat or drive. david: everything that you need to buy because they factor in all this other stuff has been -- i just bought a pound of coffee and i remember the same kind of coffee costing $4.99 when i bought it about a year ago, because my wife i must admit does most of our shopping, it now costs over $8. i mean, you know, coffee, milk, meat, everything is going up. >> we see the same thing, when i go to costco, for example, with my wife, i see salmon that used to be 8, 9, 10 dollars a pound, it is 17 to 20 dollars a pound. my wife from japan tracks those things very carefully. i'm very proud of her as a shopper, but i hear about it consistently. adam: keith, i'm adam shapiro. i want to know where do you get the figures that inflation is at 20%? give me where that comes from because that seems prett
on in washington d.c.. the lawmakers are trying to find a way to avert the fiscal cliff. that is why the president landed a short time ago within the last 50 minutes. >> a gamut of issues with the senate showing their open for business right now. trying to show up the house of representatives which is it that difficult. we'll be right back. >> is 845 right now >> is still pretty cold we are seeing plenty of sunshine from the james lick freeway camera. here are the numbers 37 and vallejo 39 out the door in fairfield. still cold in some spots, santa rosa has climbed to 43 degrees. mid-40s out the door and richmond in oakland as well. livermore is still holding onto a 39 degree weather. taking a look at afternoon highs it looks like everyone is kind of hovering around 53 degrees. we could lose or gain a degree depending on where you are located. 54 expected for oakland 524 richmond and downtown san francisco and the low 50s. high pressure is really in control and we will see sunshine and dry weather in the bay area for today. we do have changes to talk about it will start to break apart. we will see
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